BHA testers were at his Co Tipperary stable on Wednesday to test his Festival entries and interview him.

The outcome of these enquiries will determine whether the BHA allow Fenton to run horses at the biggest jumps meeting of the season.

Owner Barry Connell has made the decision not to run his Fenton-trained novice hurdler The Tullow Tank while the anabolic steroid issue is unresolved.

But Ryanair boss Michael O’Leary has said he intends to run his Gold Cup entry and third favourite Last Instalment, pointing out Fenton remains innocent of all charges. Huglin has adopted the same position.

Green light: Michael O'Leary plans to run Last Instalment in the Gold Cup

In a statement to the Irish Field, he said: ‘My horse, Value At Risk, in training with Philip Fenton, has been entered in the Weatherbys Champion Bumper at Cheltenham, and is an intended runner.

‘I have been in close contact with the Turf Club and BHA during the past week, both of whom have been very helpful under difficult circumstances.

‘I wholeheartedly support the comments made by (BHA chief executive) Paul Bittar yesterday in relation to the integrity of the sport, and I am more than happy to support whatever tests or actions either regulator wish to take in addition to the routine tests that have been done following both of the horse's wins.

Making a stand: BHA chief executive Paul Bittar wants to protect the integrity of the sport

‘I have never been anything less than delighted with the way that Philip has trained Value At Risk since he arrived at the yard in June 2012, fully six months after the alleged incident for which he has been charged took place.

'I also have no reason to believe that he has been trained other than in accordance with all applicable rules.

‘Given these circumstances and the basic principle of innocence until proven guilty, and that the sport's regulators allow it, I would like my horse to take his chance at Cheltenham.’